Market makers can't legally back off a SOES bid/ask execution at inside market. It's an SEC rule, not mine. And basically, if you aren't interested in what market makers are doing, then you really have no need for level 2, and hence no need for being in this thread.
I watch Dr. Risk trade all the time. We both see each others order flow in Cybertrader. He is good at deciding when he wants something and taking the risk. He is making money and his system works for him. He is not the best scalper I have seen, and the information that I am offering comes from some of the best scalpers in the world; guys who scalp $20,000 per day. Take it for what it's worth.
...and I don't really see you offering anything but criticism. If you don't want to believe you can "read" level 2 screens and gain inferences, then who am I to tell you different? But when LEHM downgrades INTC and then spends all day buying the stock, that tells me something, especially if LEHM is the number 2 block trader in INTC over the last 6 months. And when INCA spends all day bouncing around with 666 shares on the bid, that means something too -- aside from the fact that whoever the trader using INCA is has a sense of humor...
And yes, I can preference the third bid down if I want to, but I'll never get hit...any trader would be able to tell you that. Your theories do not equal my reality. That's all that has been proven here... |
